Vector Industries v. Jack Dupre

Vector Industries, Inc., John D. Dyer, and Dyer Investments, Inc. (collectively "Vector") appeal a final judgment in favor of Jack Dupre in this suit on an employment contract and breach of an obligation to repurchase stock pursuant to a shareholders agreement. Vector argues that: (1) Dupre failed to perform a condition precedent required by the shareholders agreement; (2) Dupre failed to designate a nationally recognized appraisal firm; (3) the trial court erred when it allowed testimony as to market value of the business from persons not nationally recognized as appraisers; (4) the evidence is insufficient to support the jury finding as to value of the corporation and, (5) the evidence is insufficient to support the jury finding that Dupre performed his duties under the employment contract without negligence. Because Dupre (1) met all the requirements under the shareholders agreement, (2) designated a nationally known appraiser, (3) introduced sufficient evidence as to the value of his stock, and (4) performed his duties under the employment contract, we affirm the judgment of the trial court.